Quarterly report pursuant to Section 13 or 15(d)

Leases

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Leases
9 Months Ended
Sep. 30, 2024
Leases  
Leases

6. Leases

Further information regarding our other office leases and accounting thereof are located in Note 2, “Summary of Significant Accounting Policies,” and Note 9, “Leases,” in our Annual Report on Form 10-K filed with the SEC on March 15, 2024.

We recognize lease expense on a straight-line basis over the lease term with variable lease expense recognized in the period in which the costs are incurred. The components of lease expense are included in general and administrative expense in our condensed consolidated statement of operations and comprehensive loss. Lease expense for the three months ended September 30, 2024 and 2023 was $172 and $305, respectively. Lease expense for the nine months ended September 30, 2024 and 2023 was $516 and $954, respectively. The weighted-average remaining lease term for operating leases as of September 30, 2024 was 2.91 years.

Future minimum lease obligations are set forth below:

 

Future minimum lease obligations years ending December 31,

 

Lease
Obligations

 

2024 (Remainder)

 

$

122

 

2025

 

 

360

 

2026

 

 

370

 

2027

 

 

284

 

 

 

$

1,136

 

Less: Portion representing interest

 

 

(97

)

 

 

$

1,039